Compensation & Benefit System

Define a firm’s compensation & benefit system to ensure firm profitability and fair partners compensation.

 

1. Your needs

• Setting a system that both ensures retaining rainmakers through fair compensation and rewarding culture alignment, cross-selling, knowledge sharing and firm’s dedication efforts
• Favoring internal communication and partner’s support and relative content towards the new system
• Defining criteria that are objective and understandable for everyone and drafting them in the most efficient and clear wording

 

2. Our solutions

• Analyzing firm’s total income and profitability over the past 3 to 5 years and share of firm’s income and profitability related to each partner
• Collecting and analyzing all costs (salaries, furniture) per partner and department, as well as fees for common expenses and documentation related to the current system
• Running individual interviews with all or key partners of the firm in order to assess their expectations and their perceptions and concerns regarding the current system
• Presenting scenarios of various compensation & benefit systems (with their upsides/downsides) to the firm’s top management, with tailored Excel modeling tools
• Drafting the new compensation & benefit chart
• Setting the communications plan

 

3. Our deliverables

• Report including firm’s income and profitability analysis, costs analysis, partners expectations and concerns identification, major scenarios and their likely impact, …
• Compensation & Benefit System Excel Modeling Tool
• Draft of the new compensation & benefit system
• Internal communications plan related to the presentation of the new system

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